Aeternity Tackles All Problems That Have Been Plaguing Hitherto Blockchain Technologies

Aeternity, a new award-winning blockchain technology currently developed in Liechtenstein, seeks to introduce a number of enhanced features that allow it to surpass its predecessors in terms of scalability, scripting safety and ease of data access.

Read introduce about Aeternity Blockchain an Innovative Approach To Smart Contracts.
Blockchain is an emerging technology that quickly becomes massive due to the many breakthroughs that it introduces. Its popularity began when Bitcoin became pervasively used as digital currency. Since then, various blockchain technologies have emerged and gained worldwide attention. Technologies like Ethereum, Augur, GroupGnosis, and Truthcoin, among others, are known for their attempt to offer decentralized platform to provide financial and legal services to their users. Despite their proven excellence in accomplishing this task, they still leave some gaps that reduce the efficiency of their attempt to reach their goals and to fulfil their promise. Aeternity is designed to close these gaps and to establish itself as the most efficient blockchain technology.

What are the gaps that Aeternity attempts to close actually? All blockchain technologies that are available today have problem in managing at least one of the following factors.

Governance
Some blockchain technologies that are available today are known to be plagued by the decision-making process for any changes or upgrades done to protocol that lacks definition, clarity and transparency. This problem may lead to upgrade process that is more complicated than it should be. The highly decentralized platform is often troubled by arguments and often disputes among all value holders. Aeternity seeks to solve this problem by offering clearer and more transparent governance system that relies on prediction markets to function as efficiently as possible.

Scalability
The prevalence of stateful design in many blockchain technologies available today makes it difficult for smart contracts to be analyzed. This difficulty, together with sequential transaction ordering, problematizes platform’s scalability. Aeternity introduces a system that puts smart contracts in state channel instead of on-chain and ensures the independence of all transactions so that their processing can be done in parallel. This new system guarantees the scalability of the platform.

Data Access
Integrating real-world data into the highly decentralized blockchain system has always been inefficient and expensive because some blockchain technologies tend to build a consensus mechanism inside smart contracts instead of utilizing the mechanism already built in the blockchain. Aeternity attempts to offer easier, more efficient and more affordable data access by generalizing the utilization of blockchain’s consensus mechanism.

Organizations that are interested in joining Aeternity may look forward to getting its tokens, called aeon tokens (AE), which will be distributed starting at April. Let's be part Aeternity Contributors

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